Suppose the "pro-trade" government decides to subsidize steel exports by paying a certain amount for each ton sold abroad. How does this export subsidy affect the domestic price of steel, the quantity produced, the quantity consumed, and the quantity exported of steel? How does it affect consumer surplus, producer surplus, government revenue, and total surplus? Is it a good policy from the point of view of economic efficiency?

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.

"jake’s roof repair has provided the following data concerning its costs: fixed cost per month cost per repair-hour wages and salaries $ 20,900 $ 15.00 parts and supplies $ 7.70 equipment depreciation $ 2,800 $ 0.35 truck operating expenses $ 5,720 $ 1.60 rent $ 4,690 administrative expenses $ 3,850 $ 0.50 for example, wages and salaries should be $20,900 plus $15.00 per repair-hour. the company expected to work 2,600 repair-hours in may, but actually worked 2,500 repair-hours. the company expects its sales to be $47.00 per repair-hour. required: compute the company’s activity variances for may."

Suppose a new "payment technology" allows individuals to make payments using u.s. treasury bonds (i.e., u.s. treasury bonds are immediately cashed when needed to make a payment and that balance is transferred to the payee). how do you think this payment technology would affect the transactions component of the demand for money? a. this would lead to a decreased need to hold cash for transactions; however, the transactions demand for money would remain unchanged. b. this would lead to a decreased need to hold cash for transactions, thus the transactions demand for money would decrease. c. this would lead to an increased need to hold cash for transactions, thus the transactions demand for money would increase. d. this technology would not change the transactions component of the demand for money.